What is roulette?Roulette is a casino and gambling game (Roulette is a French word meaning "small wheel"). A croupier turns a round roulette wheel which has 37 or 38 separately numbered pockets in which a ball must land. The main pockets are numbered from 1 to 36 and alternate between red and black, with number 1 being red (A fascinating bit of trivia on the side: the numbers 1-36 add up to 666...hint hint hint). There is also a green pocket numbered 0. In most roulette wheels in the United States but not in Europe, there is a second zero compartment marked 00, also colored green. If a player bets on a single number and wins, the payout is 35 to 1. The bet itself is returned, so in total it is multiplied by 36. (In a lottery one would say 'the prize is 36 times the cost of the ticket', because in a lottery the cost of the ticket is not returned additionally.) A player can bet on numbers, combinations, ranges, odds/evens, and colors. |
|
- Casino's have become very well organised multinational businesses, they are not longer ruled by the mob as in the beginning days.
- Now, suppose you are running a casino, and you would KNOW for certain, if you let your gambling equipment run without maintenance or statistical analysis, some experienced high roller gamblers could step in, and rob your casino for millions of dollars.
- These days, I can tell you first source as my friend is a dealer, all roulette wheels in respectable casino's are statistically monitored with software. So at any time the casino has far more statistical data to watch for bias, more data than at any time a player could collect. As any serious statistician will tell you: the larger the statistical data, the more dependable any conclusion one might make. If a player would observe let's say 100 spins to determine bias before playing this is FAR TOO SHORT to seriously determine bias. I would suggest to serious gamblers they buy a decent statistics book in stead of this.
- Now suppose the casino security (and they have a lot as any casino visitor knows) notices there is a bias. Well, what would they do, would you think: just let the wheel continue to turn or close it down for maintenance or simply (because they have more than enough money coming in) replace it?
This book is written for a time when casino's were ruled by the mob and only thought of making money in the short time. If a reader would be making conclusions to look and play a wrongfully as 'biased' identified wheel, he will loose a lot of money because he is explicitely betting against the law of large numbers (which is the mathematical law that the MIT students used in Blackjack). Or in other words: these days the probability one is playing a balanced are far greater than it would be a biased wheel, in the last case the law of large numbers and probabilitytheory can increase your chances.
Nice to have in your roulette library, but of no practical use these days.